Question
Panther Co. had a quality-assurance warranty liability of $352,000 at the beginning of 2018 and $311,000 at the end of 2018. Warranty expense is based
Panther Co. had a quality-assurance warranty liability of $352,000 at the beginning of 2018 and $311,000 at the end of 2018. Warranty expense is based on 3% of sales, which were $43 million for the year. What were the warranty expenditures for 2018?
Multiple Choice
- $1,249,000.
- $0.
- $1,331,000.
- $1,290,000.
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Fundamental Managerial Accounting Concepts
Authors: Thomas Edmonds
6th Edition
78110890, 978-0078110894
